This oversold rally has been surprising persistent since the March oversold lows.
Don’t fight it. But do be prepared if the rally fails near the February top.
With tepid volume on the upside, forceful buying power appears lacking.
The path of least resistance may be up in recent weeks, but it is not so clear in the longer time frames.
A shakeout in days ahead would come as no surprise.
Trade cautiously and keep risk exposure under tight control.
